International Seaways (NYSE:INSW) Reaches New 12-Month High – Time to Buy?

International Seaways Inc. (NYSE:INSW)’s share price reached a new 52-week high on Wednesday . The company traded as high as $59.25 and last traded at $59.3560, with a volume of 182117 shares traded. The stock had previously closed at $57.45.

Analyst Upgrades and Downgrades

INSW has been the topic of several recent research reports. Weiss Ratings restated a “hold (c+)” rating on shares of International Seaways in a report on Thursday, January 22nd. Zacks Research lowered shares of International Seaways from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 5th. Pareto Securities raised shares of International Seaways from a “hold” rating to a “buy” rating and set a $64.00 target price on the stock in a report on Tuesday, January 20th. Finally, Wall Street Zen upgraded shares of International Seaways from a “hold” rating to a “buy” rating in a report on Friday, January 23rd. Three research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, International Seaways has a consensus rating of “Moderate Buy” and a consensus target price of $57.33.

International Seaways Price Performance

The company has a debt-to-equity ratio of 0.26, a current ratio of 1.75 and a quick ratio of 1.75. The firm has a market cap of $2.94 billion, a price-to-earnings ratio of 13.56 and a beta of -0.18. The stock has a 50-day moving average price of $51.92 and a 200 day moving average price of $47.86.

International Seaways (NYSE:INSW) last released its quarterly earnings results on Thursday, November 6th. The transportation company reported $1.15 EPS for the quarter, topping the consensus estimate of $0.91 by $0.24. The company had revenue of $196.39 million for the quarter, compared to analyst estimates of $180.92 million. International Seaways had a return on equity of 10.13% and a net margin of 28.26%.The firm’s revenue was down 12.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.57 earnings per share. As a group, equities research analysts forecast that International Seaways Inc. will post 7.77 earnings per share for the current fiscal year.

International Seaways Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 23rd. Shareholders of record on Tuesday, December 9th were given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend was Tuesday, December 9th. International Seaways’s dividend payout ratio (DPR) is presently 10.93%.

Insider Buying and Selling

In other news, CFO Jeffrey Pribor sold 1,000 shares of the stock in a transaction that occurred on Thursday, January 15th. The shares were sold at an average price of $55.68, for a total value of $55,680.00. Following the sale, the chief financial officer directly owned 79,073 shares in the company, valued at $4,402,784.64. This represents a 1.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Lois K. Zabrocky sold 2,000 shares of the stock in a transaction on Thursday, January 15th. The shares were sold at an average price of $55.17, for a total value of $110,340.00. Following the sale, the chief executive officer directly owned 180,421 shares in the company, valued at approximately $9,953,826.57. The trade was a 1.10% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 32,500 shares of company stock worth $1,732,605 over the last three months. 2.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On International Seaways

Several institutional investors and hedge funds have recently bought and sold shares of the business. Arizona State Retirement System raised its holdings in shares of International Seaways by 1.7% during the third quarter. Arizona State Retirement System now owns 12,409 shares of the transportation company’s stock valued at $572,000 after buying an additional 206 shares during the last quarter. Evergreen Capital Management LLC lifted its position in shares of International Seaways by 2.9% during the 3rd quarter. Evergreen Capital Management LLC now owns 9,832 shares of the transportation company’s stock valued at $453,000 after acquiring an additional 274 shares during the last quarter. Blue Trust Inc. lifted its stake in International Seaways by 18.3% during the second quarter. Blue Trust Inc. now owns 1,872 shares of the transportation company’s stock valued at $68,000 after buying an additional 289 shares in the last quarter. Founders Capital Management lifted its holdings in shares of International Seaways by 37.5% in the fourth quarter. Founders Capital Management now owns 1,100 shares of the transportation company’s stock valued at $53,000 after purchasing an additional 300 shares in the last quarter. Finally, GAMMA Investing LLC lifted its position in shares of International Seaways by 8.6% in the fourth quarter. GAMMA Investing LLC now owns 4,367 shares of the transportation company’s stock worth $212,000 after purchasing an additional 344 shares in the last quarter. Institutional investors and hedge funds own 67.29% of the company’s stock.

International Seaways Company Profile

International Seaways, Inc (NYSE: INSW) is an independent tanker company that provides seaborne transportation services to oil companies, commodity traders and national oil companies. The firm’s operations focus on the carriage of crude oil and refined petroleum products, offering both time­ charter and voyage­ charter arrangements. With a modern fleet of very large crude carriers (VLCCs), Suezmax and Aframax tankers, as well as medium range (MR) and Handy product tankers, International Seaways supports global energy supply chains across major trade routes.

Founded in 1997 as Diamond S Shipping, the company completed its initial public offering in the late 1990s and rebranded to International Seaways in September 2018.